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Stimulus: Why you’d need to pay back stimulus cash

In the last two years, millions of Americans have seen three stimulus checks from the IRS to help offset financial strain.

newspaper with stimulus headline and cash

While this helped many people, there are some cases where the IRS may have mistakenly sent you a stimulus check.

There were guidelines for who could receive a stimulus check, and the IRS may not have been aware that some people didn’t meet them.

How much money would I get from the gas stimulus check proposal?

Reasons you might need to pay back stimulus payments

One reason is that you ended up making too much for a payment, but the IRS used an old return with a lower income.

If a loved one died in 2019 and a check was sent for them in 2020, the IRS was probably unaware and will want it back.

This was for checks based on 2018 and 2019 tax returns.

Do I need to pay income taxes on my economic impact payments?

Non-citizens may be required to send the money back if they received one despite paying taxes.

There are also situations where people may have received more than one payment by mistake.

They’ll need to pay that extra payment back.

Sometimes the IRS won’t notice a mistake for years, so when they do they will send a letter requesting payment.

If you’re aware of the mistake, it’s best to just take care of it.

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